Israel Extends Bank Cooperation Amid Looming Crisis

Israel's decision to sign a waiver extending cooperation between Israeli and Palestinian banks until November 30 could lead to another crisis. This move, announced by Israeli Finance Minister Bezalel Smotrich, follows cabinet approval and aims to manage short-term financial relations.

In a development that may pave the way for another financial confrontation, the Israeli government has approved a waiver to extend the interbank cooperation between Israeli and Palestinian banks until November 30. This was confirmed on Thursday by the U.S. government, which described the extension as a 'very short term duration.'

Israeli Finance Minister Bezalel Smotrich announced that he would sign the waiver following the cabinet's unanimous agreement to the measure. The extension aims to manage the financial dynamics between the two regions, but it may only serve as a temporary reprieve.

The situation suggests a looming crisis as the new deadline approaches, signaling potential complications in the already tense economic relationship between Israel and Palestine.

(With inputs from agencies.)